The amount of rent you can earn as a landlord obviously depends on various factors, including the market, the type of property, and the area the property is located in.
But to help you work it out, we have created a useful guide outlining everything that you need to know about rental valuations and how they work.
Getting a rental valuation
A rental valuation allows landlords to calculate the value of a rental property per month, so it can be marketed to potential tenants. Factors that will affect the rental value of your property include:
- property size
- proximity to schools, transport and shops
- condition of the property
- whether or not it has gardens or any outdoor space.
In many areas, there’s a lot of competition for tenants, so it’s important that your property is in the very best condition to ensure it’s appealing and attracts plenty of interest.
Booking an virtual valuation
You can determine the rental value of your property by booking a virtual valuation. The process is incredibly simple. All you need to do is book your valuation online, give your property details, and wait for the estate agent to contact you.
Virtual valuations involve a tour of a property, carried out by the owner via video link. During this process, you will be asked to showcase all of the property features that might impact its value, including the number of bedrooms, the overall condition of the property, the available indoor and outdoor space, as well as its curb appeal.
So far, virtual valuations have been incredibly successful and have kept the property market moving over the last year, especially for landlords looking to reap the rewards of their investments.
What happens next?
Once you have an indication of how much you could earn from your property, you can then start to market it and connect with potential tenants.
Remember, it’s always worthwhile getting more than one valuation so you can be sure that you’re getting the very best price for your property.
Contact Gordon & Co today
If you would like to find out more about how much you could earn from your rental property, Gordon & Co. can help. Find out how to get a free valuation here.
Contact us today to discuss your rental property venture.